About The Loonie Adventures of a Forex Noob

“Huck loves her bucks!” I always say. The problem, of course, is how to make those bucks!! In this blog, I'll be posting my adventures as I traverse the forex world, while trying to catch some pips along the way. To do this, I will make use of classical charting methods as well as develop my own mechanical system. Not only will I talk about FX, but I'll also share how my day went along with any currency trade updates. Hopefully, by the end of this tale, I'll be able to achieve my goal of becoming a consistently profitable foreign exchange trader.

HLHB System Update (July 28 – August 1, 2014)

EUR/USD

EUR/USD HLHB System Forex Chart

There was no megaprofitable signal from EUR/USD throughout the week, as the pair stayed in a wide range. It did catch signal #5 though, which canceled out all the fakeouts and led to a 19-pip win for the system. Woot!

#

Signal

Open

Close

Pips

Notes

1

Sell

1.3432

1.3432

0

RSI was already below 50

2

Buy

1.3440

1.3440

0

RSI was already below 50

3

Sell

1.3435

1.3437

-2

New crossover

4

Buy

1.3437

1.3437

0

There was no crossover

5

Sell

1.3433

1.3397

36

New crossover

6

Buy

1.3397

1.3389

-8

New crossover

7

Sell

1.3389

1.3396

-7

New crossover

8

Buy

1.3396

1.3396

0

There was no crossover

9

Sell

1.3392

1.3392

14

RSI was already below 50

10

Sell

1.3388

1.3388

0

RSI was already below 50

11

Buy

1.3395

1.3395

0

RSI was already above 50

TOTAL

19

GBP/USD

GBP/USD HLHB System Forex Chart

With Cable’s chart on a downtrend for most of the week, you would think that the system would clock in more profits. Unfortunately, the RSI filter took out signals 7 and 8, which would have caught most of the downtrend. Signal #5 was valid though, and was still enough to boost the results to a 12-pip gain by the end of the week. Not bad!